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Credit Suisse adds a short EUR/USD position to its technical portfolio. The trade opened at 1.2931, with a protective stop at 1.2855, and a target at 1.3300. CS plans to add this long into 1.2902.
CS' rationale behind this call is follows:
"We expect the market to rebound higher from here and eventually breakout above 1.3066/75 to allow for an advance initially to 1.3135 and then 1.3319.
To negate this view, according to CS, a violation of the 1.2890/76/65 support cluster is needed which would then see the bearish tone continue for the near term towards 1.2662 chart support.
Credit Suisse adds a short EUR/USD position to its technical portfolio. The trade opened at 1.2931, with a protective stop at 1.2855, and a target at 1.3300. CS plans to add this long into 1.2902.
CS' rationale behind this call is follows:
"We expect the market to rebound higher from here and eventually breakout above 1.3066/75 to allow for an advance initially to 1.3135 and then 1.3319.
To negate this view, according to CS, a violation of the 1.2890/76/65 support cluster is needed which would then see the bearish tone continue for the near term towards 1.2662 chart support.
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